PEAB Annual report 2021 – Note 18 Participation in joint ventures

Note 18 Participation in joint ventures

Information regarding significant joint ventures in the Group

Fastighets AB Centur, 50 percent ownership. The company will own, manage and develop commercial property and homes.

Fastighets AB ML4, 50 percent ownership. The company will own and manage research facility Max IV in Lund. The facility is rented to Lund University.

Tornet Bostadsproduktion AB, 33.33 percent ownership. The company will develop, own and manage attractive and environmentally friendly rentals in larger cities in Sweden.

Point Hyllie Holding AB, 50 percent ownership. The company will own and manage the office property The Point and the hotel property Värdshuset 5.

Skiab Invest AB, 50 percent ownership. The company will develop, own and manage commercial property and housing in the Scandinavian mountains. Skiab Invest AB, half-owned by Peab and SkiStar, signed contracts in May 2021 for the acquisition of three lodges with a property value of SEK 737 million and development rights worth SEK 305 million from SkiStar. Peab and SkiStar have owned and managed three lodges in Swedish and Norwegian mountainside locations through various jointly owned companies. These have now been gathered toghether in the half-owned company Skiab Invest AB. The transactions were finalized per July 2021.

		Significant joint ventures 2021-12-31					Significant joint ventures 2020-12-31
Group, MSEK		Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB	Skiab Invest AB	Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB
		Väsentliga joint ventures 2021-12-31					Väsentliga joint ventures 2020-12-31
	Koncernen, Mkr	Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB	Skiab Invest AB	Fastighets AB Centur	Fastighets AB ML4	Tornet Bostads- produktion AB	Point Hyllie Holding AB
Net sales	Nettoomsättning	406	97	220	59	42	408	101	188	43

Operating profit ¹⁾	Rörelseresultat ¹⁾	318	53	125	8	31	333	57	111	-7
Interest expenses and similar profit/loss items	Räntekostnader och liknande resultatposter	-120	-35	-41	-19	-2	-100	-36	-45	-19
Tax	Skatt	-35	-6	-18	1	5	-61	-5	-16	3
Profit for the year	Årets resultat	163	12	66	-10	34	172	16	50	-23
Other comprehensive income and total comprehensive income for the year	Övrigt totalresultat och årets totalresultat	163	12	66	-10	34	172	16	50	-23
Less non-controlling interest	Avgår innehav utan bestämmande inflytande	-5					-3
Total comprehensive income less non-controlling interest	Summa totalresultat efter avdrag för innehav utan bestämmande inflytande	158	12	66	-10	34	169	16	50	-23
¹⁾ Depreciation amounts to	¹⁾ Avskrivningar uppgår till		43	35	32	12		43	26	31

Fixed assets	Anläggningstillgångar		204			51		178	5
Investment property	Förvaltningsfastigheter	6,355	1,991	4,536	1,354	1,723	6,255	1,956	4,076	1,324
Short-term investments and liquid funds	Kortfristiga placeringar och likvida medel	201	79	199	41	148	84	39	57	66
Other current assets	Övriga omsättningstillgångar	20	2	11	6	401	139	6	87	5
Total assets	Summa tillgångar	6,576	2,276	4,746	1,401	2,323	6,478	2,179	4,225	1,395
Long-term financial liabilities	Långfristiga finansiella skulder	4,825	1,959	3,310	990	1,104	4,902	1,901	2,849	995
Other long-term liabilities	Övriga långfristiga skulder	310	62	12		1	281	58	24	1
Current financial liabilities	Kortfristiga finansiella skulder		85			10		39
Other current liabilities	Övriga kortfristiga skulder	213	34	121	36	44	230	57	115	14
Total liabilities	Summa skulder	5,348	2,140	3,443	1,026	1,159	5,413	2,055	2,988	1,010
Net assets	Nettotillgångar	1,228	136	1,303	375	1,164	1,065	124	1,237	385
Less non-controlling interest	Avgår innehav utan bestämmande inflytande	-22		-31			-17		-31
Net assets less non-controlling interest	Nettotillgångar efter avdrag för innehav utan bestämmande inflytande	1,206	136	1,272	375	1,164	1,048	124	1,206	385

Group share of net assets at the beginning of the year	Koncernens andel av nettotillgångar vid årets ingång	524	62	402	192	55	440	54	335	204
Share of total comprehensive income	Andel av summa totalresultat	79	6	21	-5	17	84	8	17	-12
Acquisitions	Förvärv			2
Contribution / new issues	Tillskott / nyemission	150				510			50
Dividend received	Erhållen utdelning	-150
Group share of net assets at year-end	Koncernens andel av nettotillgångar vid årets utgång	603	68	425	187	582	524	62	402	192
Group share of unrealized internal profit at the beginning of the year	Koncernens andel av orealiserad internvinst vid årets ingång	-44	-57	-23	-108	–	-39	-55	-20	-108
Reclassification of internal profit when restructuring partially owned company	Omklassificering av internvinst vid omstrukturering av delägt bolag					-89
Elimination of unrealized profit	Eliminering av orealiserad vinst	-3	1	-4	-8		-5	-2	-3
Group share of unrealized internal profit at year-end	Koncernens andel av orealiserad internvinst vid årets utgång	-47	-56	-27	-116	-89	-44	-57	-23	-108
Recognized value at year-end	Redovisat värde vid årets utgång	556	12	398	71	493	480	5	379	84

Profit is reported in the following line in the income statement:	Resultatet redovisas på följande rad i resultaträkningen:
Production costs	Kostnader för produktion	76	7	17	-13	17	79	6	14	-12
Total	Summa	76	7	17	-13	17	79	6	14	-12

Recognized amount is reported in the following line in the balance sheet:	Redovisat värde fördelas på följande rad i balansräkningen:
Participation in joint ventures	Andelar i joint ventures	556	12	398	71	493	480	5	379	84
Total	Summa	556	12	398	71	493	480	5	379	84

Information on other joint venture's value in the Group

Group, MSEK		2021	2020
	Koncernen, Mkr	2021	2020
Share of comprehensive income in other joint ventures	Andel av totalresultat för övriga joint ventures	105	46
Profit is divided among the following items in the income statement:	Resultatet fördelas på följande rader i resultaträkningen:
Productions costs	Kostnader för produktion	99	23
Other operating income	Övriga rörelseintäkter	6	23
Total	Summa	105	46

Recognized value of other joint ventures	Redovisat värde av övriga joint ventures	693	741
Recognized amount is divided among the following items in the balance sheet:	Redovisat värde fördelas på följande rader i balansräkningen:
Participation in joint ventures	Andelar i joint ventures	797	865
Other provisions ¹⁾	Övriga avsättningar ¹⁾	-87	-108
Accrued expenses and deferred income ²⁾	Upplupna kostnader och förutbetalda intäkter ²⁾	-17	-16
Total	Summa	693	741

¹⁾Refers to joint ventures where equity is negative.

²⁾ Refers to joint ventures where the net sum of equity and internal profit elimination is negative.

					Share percent
Company		Corp. ID no.		Registered Office	2021	2020
					Andel procent
	Företag	Organisationsnummer	Säte		2021	2020
Acturum Development AB	Acturum Development AB	556910-5488	Stockholm	Stockholm	–	50
Blindheim Kran AS	Blindheim Kran AS	918 329 293	Ålesund	Ålesund	45	45
Bondistranda Utvikling AS	Bondistranda Utvikling AS	992 512 741	Lysaker	Lysaker	50	50
Brekkeveien 5 Bolig AS	Brekkeveien 5 Bolig AS	991 935 177	Lysaker	Lysaker	50	50
Byggutveckling Svenska AB	Byggutveckling Svenska AB	556627-2117	Linköping	Linköping	50	50
Fastighets AB Centur	Fastighets AB Centur	556813-6369	Stockholm	Stockholm	50	50
Fastighets AB ML4	Fastighets AB ML4	556786-2155	Malmö	Malmö	50	50
Fastighets AB Tornet	Fastighets AB Tornet	559008-2912	Göteborg	Gothenburg	50	50
Fjällvärme i Sälen AB	Fjällvärme i Sälen AB	556536-1895	Malung-Sälen	Malung-Sälen	50	50
Fløifjellet Eiendom AS	Fløifjellet Eiendom AS	915 467 407	Tromsø	Tromsø	50	50
Fløtningen Park AS	Fløtningen Park AS	992 212 330	Skien	Skien	50	50
Frenvikrønningen AS	Frenvikrønningen AS	986 838 325	Skien	Skien	50	50
Fri Sikt Volsdalsberga AS	Fri Sikt Volsdalsberga AS	990 529 396	Ulsteinvik	Ulsteinvik	40	40
Forsøket Boliger AS	Forsøket Boliger AS	919 440 694	Tromsø	Tromsø	50	50
Galtungveien Eiendom AS	Galtungveien Eiendom AS	927 660 407	Halden	Halden	50	–
Hans Haslums Vei Utvikling AS	Hans Haslums Vei Utvikling AS	914 498 937	Lysaker	Lysaker	50	50
Hälsostaden Ängelholm Holding AB	Hälsostaden Ängelholm Holding AB	556790-5723	Ängelholm	Ängelholm	33.3	33.3
ITolv AB	ITolv AB	556513-2478	Eksjö	Eksjö	43.8	43.8
Kaldslettneset AS	Kaldslettneset AS	911 692 058	Tromsø	Tromsø	50	50
KB Älvhögsborg	KB Älvhögsborg	916899-2734	Trollhättan	Trollhättan	50	50
Kirkebakken Vest AS	Kirkebakken Vest AS	988 796 174	Horten	Horten	50	50
Klosterfoss Utvikling AS	Klosterfoss Utvikling AS	991 043 829	Skien	Skien	50	50
Kungsörs Grusaktiebolag	Kungsörs Grusaktiebolag	556044-4134	Kungsör	Kungsör	50	50
Lillegården Eiendom AS	Lillegården Eiendom AS	886 804 512	Skien	Skien	50	50
Ljusta Projektutveckling AB	Ljusta Projektutveckling AB	556668-4899	Sundsvall	Sundsvall	–	50
Majorbygg AS	Majorbygg AS	912 077 020	Skien	Skien	50	50
Medkila Nord AS	Medkila Nord AS	998 565 545	Harstad	Harstad	50	50
Mountain Resort Trysil AS	Mountain Resort Trysil AS	996 284 115	Trysil	Trysil	–	50
Myren Parkering AS	Myren Parkering AS	912 024 733	Skien	Skien	26.4	26.4
Nedre Holte AS	Nedre Holte AS	985 911 495	Harstad	Harstad	50	50
Nordasfalt AS	Nordasfalt AS	950 501 480	Bodø	Bodø	50	50
Nyheim Bolig AS	Nyheim Bolig AS	822 156 282	Tromsø	Tromsø	–	50
Nyheim Temp AS	Nyheim Temp AS	928 032 582	Tromsø	Tromsø	50	–
PEKO Fastighets AB	PEKO Fastighets AB	559220-8911	Solna	Solna	50	–
PeKum AB	PeKum AB	559041-7464	Kumla	Kumla	50	50
Point Hyllie Holding AB	Point Hyllie Holding AB	559023-4034	Solna	Solna	50	50
PPE Holding AB	PPE Holding AB	559003-7304	Solna	Solna	50	50
PPE Holding i Borgholm AB	PPE Holding i Borgholm AB	559309-7768	Kalmar	Kalmar	50	–
Runö Fastigheter Handelsbolag	Runö Fastigheter Handelsbolag	969723-2107	Stockholm	Stockholm	30	30
Scandinavian Mountains AB	Scandinavian Mountains AB	556973-5631	Malung-Sälen	Malung-Sälen	24.4	24.4
Sicklaön Bygg Invest AB	Sicklaön Bygg Invest AB	556911-5479	Solna	Solna	50	50
Skiab Invest AB	Skiab Invest AB	556848-5220	Malung-Sälen	Malung-Sälen	50	50
Skiab Invest AS	Skiab Invest AS	915 659 454	Trysil	Trysil	–	50
Solligården Bolig DA	Solligården Bolig DA	913 765 516	Lysaker	Lysaker	50	50
Solligården Næring AS	Solligården Næring AS	913 764 862	Lysaker	Lysaker	50	50
Stadsliden Utveckling AB	Stadsliden Utveckling AB	556874-7413	Umeå	Umeå	50	50
Steindalen AS	Steindalen AS	914 738 091	Stjørdal	Stjørdal	33.3	33.3
Storsvingen Vest AS	Storsvingen Vest AS	999 210 953	Hammerfest	Hammerfest	50	50
Strömbrytaren Holding AB	Strömbrytaren Holding AB	559116-6391	Stockholm	Stockholm	50	50
Sydpartner AB	Sydpartner AB	556712-4952	Ängelholm	Ängelholm	50	50
Tomasjord Park AS	Tomasjord Park AS	983 723 853	Tromsø	Tromsø	–	50
Tornet Bostadsproduktion AB	Tornet Bostadsproduktion AB	556796-2682	Stockholm	Stockholm	33.3	33.3
Trysil Hotellutvikling AS	Trysil Hotellutvikling AS	987 054 409	Trysil	Trysil	–	50
Trysil Suiter AS	Trysil Suiter AS	991 276 068	Trysil	Trysil	–	50
Tunveien Eiendom AS	Tunveien Eiendom AS	916 321 007	Oslo	Oslo	50	50
Umeå Mark & Exploatering AB	Umeå Mark & Exploatering AB	556660-7064	Umeå	Umeå	50	50
Vardenbakken 99 AS	Vardenbakken 99 AS	998 347 211	Oslo	Oslo	50	50
Visio Råsunda Garage AB	Visio Råsunda Garage AB	556952-9992	Solna	Solna	50	50
Överby Holding AB	Överby Holding AB	559103-6818	Solna	Solna	–	50